The Reserve Bank of India has ordered Bank of Baroda that it can not add customers to its mobile application. This comes after reports earlier that the bank s official had linked bank accounts to unrelated mobile numbers as they were under pressure to achieve high targets.
The central banks action comes almost three months after a news network exposed how the bank linked bank accounts to unregistered mobile numbers and signed up these numbers to the application. Even though customers were deregistered after they signed up, it led to an artificial increase in the number of downloads and sign-ups.
The RBI has said the bank has been directed to ensure that existing bob World customers do not face any disruption on account of this suspension. - RBI Takes Action Against Bank Of Baroda, Bars New Customer Onboarding On Mobile App